Keda Industrial Group (600499) Q4 2025 earnings summary

Executive summary

• Achieved revenue of ¥17.39 billion in 2025, up 38.01% year-over-year, with overseas revenue accounting for 67% of total sales.

• Net profit attributable to shareholders reached ¥1.31 billion, up 30.07% year-over-year.

• Operating cash flow increased 226.47% year-over-year to ¥1.82 billion, driven by strong overseas and lithium battery material sales.

• Proposed cash dividend of ¥3.00 per 10 shares, totaling ¥571.77 million, pending shareholder approval.

Financial highlights

• Revenue: ¥17.39 billion (+38.01% YoY); Net profit: ¥2.17 billion (+68.17% YoY); Net profit attributable to shareholders: ¥1.31 billion (+30.07% YoY).

• Gross margin for overseas building materials: 35.26% (+4pp YoY); lithium battery materials revenue: ¥2.38 billion (+170.57% YoY).

• Basic EPS: ¥0.696 (+30.34% YoY); ROE: 10.90% (+2.10pp YoY).

• Cash flow from operations: ¥1.82 billion (+226.47% YoY).

Outlook and guidance

• 2026 revenue target set at ¥19.5 billion, with continued focus on global expansion in ceramics machinery and overseas building materials.

• Plans to acquire the remaining 51.55% of Guangdong Tefu International, aiming for full consolidation of overseas building materials business.

• Ongoing investment in R&D, digitalization, and supply chain optimization to drive efficiency and product innovation.